Ripple & Coinbase : A Complicated Relationship That Could Have an XRP Happy Ending!

2018 was a difficult year for most of the crypto assets in the market, including XRP. Companies have also been affected by this bear trend. XRP has been during the last years among the top 3 virtual currencies in terms of market capitalization. However, Coinbase, one of the largest and most important crypto platforms available has not listed XRP yet.

Earlier this year, different rumours circulated on the internet and social networks regarding the possibility for Coinbase to list XRP as one of their virtual currencies. By that time, Coinbase had only four assets on its platform: Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC) and Ethereum (ETH).

Because of these rumours and a crypto market that was growing really fast, XRP was able to reach $3.84, its highest price ever recorded. Nevertheless, the company itself announced that they were not going to list XRP in the short term.

At the same time, XRP and Ripple face more problems and troubles during the year. As the market was already dropping from its all-time high in January, Ripple started to receive lawsuits claiming that XRP was sold as an unregistered security. One of these cases has already been moved to Federal Court as requested by Ripple’s attorneys. This has also created FUD in the space and around XRP.

Bitcoin and Ethereum are not considered securities. But there was no regulatory agency claiming that XRP was not a security. This is something that harmed the virtual currency and pushed it to its lowest point this year close to $0.25.

Nonetheless, there are several experts that believe that XRP is not a security and shouldn’t be considered one. One of these individuals is Changpeng Zhao, the CEO of Binance, one of the largest and most important crypto exchanges in the market. In a recent tweet, Changpeng Zhao said that if XRP is considered a security this would hurt a lot of US users. He has also mentioned that it does not look like a security to him.

The court case may take years. But if XRP is ruled as a security, it would seriously hurt a lot of US users, and to a certain extent, other users around the world too. It certainly doesn’t look like a security to me, but that’s just one person’s opinion.

Coinbase has also seen the effects of the current bear market. Indeed, its trading volume has decreased by 80% since the beginning of the year according to recent reports on the matter.

Both XRP and Coinbase would clearly be benefited if the asset is added to this trading platform. There are several enthusiasts that are waiting for it to happen. At the same time, it will be possible for users to send funds between exchanges using XRP as an intermediary. This would increase XRP transactions and earnings for Coinbase.

With new traders and users joining the Coinbase platform, the company will be earning more money from trading fees. Coinbase could boost its revenue in a very simple way.

Furthermore, Conibase has also taken the decision to start listing other ERC20 tokens such as Decentraland (MANA) or Loom Network (LOOM), among others. Additionally, Coinbase explained that it could also add support to more than 30 different coins in the market aside XRP. This is why several crypto enthusiasts and Coinbase users believe that the company is losing its reputation.

According to eToro senior market analyst Mati Greenspan, bitcoin is in amidst a parabolic bull cycle and is on track to sustain its strong momentum over the medium to long term.

Since January, within less than six months, the bitcoin price has increased by nearly 100 percent against the U.S. dollar.

With a 98% gain year-to-date, bitcoin has outperformed most assets in 2019
(source: coinmarketcap.com)

Still, despite its large short-term rally, Greenspan noted that the dominant cryptocurrency is only at the start of a bigger cycle that may lead to new highs for the asset.

WHY INDUSTRY EXECUTIVES ARE SO OPTIMISTIC IN BITCOIN

In December 2018, the bitcoin price dropped to its lowest yearly point at $3,150. At the time, even though the industry had demonstrated significant progress in improving the infrastructure supporting the asset class, the sentiment around…

World’s third largest cryptocurrency Ripple (XRP) has appreciated up to 31-percent against the US dollar in just two days.

The XRP-to-dollar exchange rate Tuesday established an intraday high towards $0.405, up 25.05% since the market open on Luxembourg-based Bitstamp exchange. The pair dropped as much as 5.05-percent ahead of the European session to neutralize its overbought sentiments, finding interim support at $0.384-level.

RIPPLE (XRP) SURGES 25% IN A DAY | SOURCE: TRADINGVIEW.COM, BITSTAMP

The sentiment was the same across the rest of the cryptocurrency index, with almost all the leading cryptocurrency posting surplus intraday gains. Bitcoin (BTC), for instance, extended its rally action to establish a new 2019 peak towards $8,836.19. Ethereum, EOS, and Bitcoin Cash too recorded double-digit percentage gains on a 24-hour adjusted timeframe.

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Facebook, the largest social media giant, made news after it announced that it would launch its own cryptocurrency, Facebook Coin. It was also rumoured that Facebook was looking out for VC firms to invest in their cryptocurrency project, with the targeted sum being “as much as $1 billion.”

Now, according to an official announcement, Facebook is going to lift its ban on cryptocurrency and blockchain related ads on its platform.

The facebook statement read :

“Starting 5 June, we will update our Prohibited Financial Products and Services Policy to no longer allow ads promoting contracts for difference [CFDs], complex financial products that are often associated with predatory behaviour. These products, due to their complexity, often mislead people.”

Facebook had implemented the ban on cryptocurrency ads and promotional campaigns related to blockchains and ICOs back in January 2018. It was believed that the ban was to tackle concerns…

Craig Wright, a man who, as WIRED wrote about back in 2016, either created Bitcoin or very badly wants someone to believe he did.

Now rumours are swirling through the Bitcoin world that Wright himself is poised to publicly claim—and possibly offer some sort of proof—that he really is Satoshi Nakamoto, the mysterious inventor of Bitcoin. If he does, he’ll have to convince a highly skeptical cryptography community for whom “proof” is a serious word, and one that requires cryptographic levels of certainty.

The suggestion is that Wright, an Australian cryptographer and security professional, has arranged to perform a demonstration for media in London sometime in the next week that’s intended to convince the world he’s bitcoin’s creator.1 Luckily for any legitimate claimant to the Satoshi throne—and for bitcoiners tired of the long succession of unproven candidates and speculation—there are some clear, almost incontrovertible ways for Satoshi Nakamoto to prove himself. When…